Building a digitally ready Nigeria: CREDICORP launches new device credit programme

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Across Nigeria, progress is increasingly driven by access to the tools that help people learn, earn, and participate fully in a modern economy.

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Over the past year, CREDICORP has supported thousands of Nigerians to acquire the assets that make daily life easier, from mobility solutions that shorten commutes and increase productivity to renewable energy systems that keep homes and small businesses powered and productive. Each intervention has shown the same outcome: when Nigerians are allowed to access essential tools through fair and responsible credit, their lives improve rapidly.

Today marks an important expansion of that mission.

CREDICORP is launching a national digital device credit program that will make smartphones, laptops, and other essential digital tools more affordable for working Nigerians. In a world where so much of life has moved online, digital devices have become central to opportunity.

A smartphone can connect a young graduate to job portals and remote work; a laptop can help a civil servant stay more productive; a simple digital tool can enable a trader, artisan, or small business owner to reach new customers and run their operations efficiently. These devices are no longer luxury items; they are everyday instruments of progress.

This rollout builds on the success of the pilot phase already completed under the partnership. In the first phase, CREDICORP, working through E-Finance Company with technology support from Credlock, enabled over 1,000 Nigerians to access smartphones through affordable credit, many for the first time.

The strong repayment performance and the speed of adoption demonstrated both the appetite and the national need for this kind of support. With this new phase, CREDICORP is poised to scale the programme significantly, targeting over 15,000 Nigerians who will be able to access smartphones or laptops that directly enhance their productivity, income potential, and digital participation.

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To deliver this initiative at scale, CREDICORP is working through one of its Participating Financial Institutions, E-Finance Company, with technology support from Credlock, whose intelligent device-collateral system allows for secure, responsible, and efficient access to credit. Together, E-Finance and Credlock will ensure that Nigerians can seamlessly apply for, finance, and collect the digital devices they need, without the heavy burden of upfront payments.

Reflecting on the launch, CREDICORP’s Managing Director, Uzoma Nwagba, noted that this is a natural progression of CREDICORP’s work. “From mobility to renewable energy, we have witnessed the profound impact that access to credit can have on people’s daily lives.

Nigerians are ambitious and hardworking; they simply need fair pathways to acquire the tools that move them forward. Digital devices now sit at the center of learning, earning, and productivity, and expanding access to them is a critical step in building a more digitally ready nation.”

Credlock’s CEO, Dayo Fabayo, emphasised the power of turning everyday devices into pathways for progress. “Every smartphone represents potential to learn, to work, to access opportunity, and to live with dignity. At Credlock, we believe the device in someone’s hand can be the bridge to their financial future. Working with CREDICORP and E-Finance allows us to scale that vision to millions of Nigerians.”

This initiative is part of CREDICORP’s broader mission to expand consumer credit and improve the quality of life across the country. By widening access to digital tools, CREDICORP is supporting a more connected, productive, and future-ready Nigeria, one where every citizen can thrive.

Nigerians interested in financing their digital devices can begin the process by participating in CREDICORP PFIs via www.credicorp.ng/apply